“The recent water crisis in Bengaluru is a stark reminder of the fact that everyone needs to do their part to embrace sustainability,” he says, adding that Bengaluru-based IndiQube has taken several steps to turn its offices into climate-friendly locations.
Agarwal explains that on the one hand, there is a greater emphasis on businesses to reduce their carbon footprint from both consumers and investors, and on the other hand, there is a growing demand from tenants for green buildings As Generation Z increasingly prefers to work in environments that align with their values, including sustainability.
“Incorporating sustainability into the real estate sector is no longer an option,” he says.
The company has integrated solar energy systems, automated wastewater treatment plants (WWTPs) and water treatment plants (WTPs) to reduce freshwater consumption and environmental impact. Its facilities are equipped with charging stations for electric vehicles. Its green buildings, integration of renewable energy and smart systems reduce conventional electricity use by 25%.
Inside the offices, they have biodegradable coffee cups, recycled tissue paper, and chemical-free ozonated water for facility maintenance. “In one such project on MG Road, we have chosen a 45-year-old property and totally transformed the space, from the façade to the entrance, lifts, interiors and landscaping, incorporating modern amenities like a cafeteria, gaming area and technology,” she says. The co-founder explains that initially, when they first started implementing these ‘sustainability as a service’ initiatives, there was a lack of awareness and most owners viewed sustainability as a cost centre. However, today they are seeing greater acceptance from the property community to implement these sustainable initiatives on a large scale. “We are planning to double the green energy generation by setting up a group solar energy park. We intend to further expand our ‘renovation and upgrade’ programme to cover more older properties. By renovating these buildings to modern environmental standards, we aim to maximise resource efficiency and extend their life cycle while creating contemporary and sustainable workspaces,” he says.
IndiQube is working on renovating over 90,000 square meters of old buildings. The company also aims to engage its community of tenants, partners and stakeholders in sustainability initiatives through workshops and collaborative projects.
“Together with our stakeholders, we are committed to shaping a more sustainable future by transforming the ‘grey’ sector of commercial real estate into a ‘green’ one,” he added.
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